How to know how much money is "enough"...

[DGUtley]

How to know how much money is "enough"... How Much Money Is 'Enough'? This Simple Thought Experiment Gives You an Exact Number to Aim For - Constantly chasing more and more will make you miserable. The right goal gets you off the treadmill.

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It's ridiculous that anyone could complain about raking in $350,000 a year, and it's clear many of these folks are wildly out of touch with how privileged they are. But while these families may be extreme (and annoying), they aren't alone. It's not just the wealthy who fall into the trap of earning more only to spend more and feel just as dissatisfied.

How do you get off this treadmill?

The answer is not to compare yourself with others (Jeff Bezos will always be there to make you feel bad), or to blindly try to keep making more (there will always be some shiny, new thing to covet). The answer is to take a hard look at your own financial realities and aspirations and come up with a goal number. How much money is enough for you?

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https://www.inc.com/jessica-stillman...tm_source=digg

[MMC]

[nathanbforrest45]

The Biblical verse is not "Money is the root of all evil". The true verse is "The LOVE of money is the root of all evil". How much is enough? For some President joe biden's stipend is enough. Some people earn money while a precious few make money. For the Jeff Bozo's of the world I don't think his money is as important to him as the things he is creating to make that money, money that would not exist without his efforts. It is the sense of accomplishment that drives many to make as much as they can. What is your wildest dream? Wouldn't you like to have enough money to realize that dream?

[carolina73]

"If you ain't first, you're last." — Ricky Bobby

Money is a great measurement of success. People are always willing to tell you what you want to hear but they only pay what they percieve your value or your product's value is.

That doesn't mean that you should lose sight of why you want the money.

[Collateral Damage]

"If you ain't first, you're last." — Ricky Bobby

Money is a great measurement of success. People are always willing to tell you what you want to hear but they only pay what they percieve your value or your product's value is.

That doesn't mean that you should lose sight of why you want the money.

Some people use money as their measurement of 'success', this is true. Glad I don't socialize with them.

I used to have the 'mark of success' argument with my father. His definition: how many people remember his name. My definition: How many people remember my name, and smile.

There is a world of difference between the two, and he never seemed to grasp that.

When it comes to money, if my bills are paid, my shelter is paid for, my wheels run well and my healthcare is covered, and I can afford the occasional indulgence, then I'm good.

[nathanbforrest45]

Some people use money as their measurement of 'success', this is true. Glad I don't socialize with them.

I used to have the 'mark of success' argument with my father. His definition: how many people remember his name. My definition: How many people remember my name, and smile.

There is a world of difference between the two, and he never seemed to grasp that.

When it comes to money, if my bills are paid, my shelter is paid for, my wheels run well and my healthcare is covered, and I can afford the occasional indulgence, then I'm good.

OK, good answers as far as they go. However, how much shelter is enough shelter? After all a canvass tent can provide some shelter. What about your wheels? I have a 25 year old jeep with 200,000 miles on it. It runs well but my brand new Hyundai Santa Fe is far more comfortable and gets much better gas mileage. As for health care, being in reasonably good health I didn't have health insurance until I was in my 50's and even then it was "catastrophic illness" health care, i.e. I was run over by a truck or had cancer or any hospitalizations.

So, even saying "give me just the basics" begs the question of just what are the basics?

[Docthehun]

I'm just not "country club" material and my attitude in general mimics Chevy Chase in Caddyshack. In my life we went from being poor to being, pretty damn well off. Fortunately, being the oldest of five kids, I didn't really notice the transition until Jr. High when I was already pretty set in my ways. I still have the savings account I started to accumulate the meager earnings from my paper route. In those days, you were responsible for collections as well. You learn the right mix of toughness and empathy.

In third or fourth grade, my mom sent to the 5&10 to pick up some office supplies. I had a buck something left over in change which I used to buy a "very cool" toy machine gun with it's own sound effects. My dad viewed the purchase as something less than cool and I was ordered to "white wash" the basement walls, after school, until I completed said task. For a kid, it seemed like a monumental chore. That is how I learned the value of a buck.

I never lost it and have lived below my means my whole life. My dad once said, "money doesn't buy happiness, but it doesn't hurt".

[DGUtley]

I'm just not "country club" material and my attitude in general mimics Chevy Chase in Caddyshack. In my life we went from being poor to being, pretty damn well off. Fortunately, being the oldest of five kids, I didn't really notice the transition until Jr. High when I was already pretty set in my ways. I still have the savings account I started to accumulate the meager earnings from my paper route. In those days, you were responsible for collections as well. You learn the right mix of toughness and empathy. In third or fourth grade, my mom sent to the 5&10 to pick up some office supplies. I had a buck something left over in change which I used to buy a "very cool" toy machine gun with it's own sound effects. My dad viewed the purchase as something less than cool and I was ordered to "white wash" the basement walls, after school, until I completed said task. For a kid, it seemed like a monumental chore. That is how I learned the value of a buck. I never lost it and have lived below my means my whole life. My dad once said, "money doesn't buy happiness, but it doesn't hurt".

We grew up church mouse poor. I was delivering the Youngstown Vindicator on Sunday mornings with a wagon before Mass, milking cows and picking up paper at the pool (because we couldn't afford to pay to get in). I have never lost that frugalness and still live well below my means. My wife says that I get this look on my face when I'm going to spend real money -- even on essentials - the look like our kids did when they messed their diapers.... I can't help it. My brother that died left my sister-in-law penniless. I am very disappointed.

[Standing Wolf]

.... When it comes to money, if my bills are paid, my shelter is paid for, my wheels run well and my healthcare is covered, and I can afford the occasional indulgence, then I'm good.

I'm exactly the same way. I used to agonize over the fact that I never did the smart thing and invested or even saved on a regular basis - that my family and I would be in dire straits when I could no longer work. As it turned out, I actually was investing; it was just an investment in time, not cash. I retired toward the end of last year when I found that I could easily pay my share of the bills with money to spare - to save or spend on some small indulgence - on the income I was getting from Social Security and two pensions. (And yes, I'm aware that SSI may not be around all that much longer, but there's a very good chance it will at least outlive me.)

I did have one small bank loan that I was paying on, but when an aunt (who was a nasty, mean old woman who nobody liked) passed away and the first installment on my share of the inheritance was almost exactly enough to pay it off, I took it as a sign.

I was offered a full-time job at an attorney's office a five-minute drive from my house a couple of months ago...and I actually thought about it for a few days. But I'm learning to take it somewhat easy now, having worked nearly every day for almost fifty years, and I ended up passing on the job. My health isn't all that it could be, so I don't know how many more years I've got on this planet. It's time for me, personally, to slow it down and enjoy a quieter, more contemplative life. I have no desire to vacation in exotic places or buy hundred-thousand dollar automobiles or any of that. Sure it's fun to fantasize about something like this.



But, to coin a phrase, you can't take it with you.

[DGUtley]

I'm exactly the same way. I used to agonize over the fact that I never did the smart thing and invested or even saved on a regular basis - that my family and I would be in dire straits when I could no longer work. As it turned out, I actually was investing; it was just an investment in time, not cash. I retired toward the end of last year when I found that I could easily pay my share of the bills with money to spare - to save or spend on some small indulgence - on the income I was getting from Social Security and two pensions. (And yes, I'm aware that SSI may not be around all that much longer, but there's a very good chance it will at least outlive me.)

I did have one small bank loan that I was paying on, but when an aunt (who was a nasty, mean old woman who nobody liked) passed away and the first installment on my share of the inheritance was almost exactly enough to pay it off, I took it as a sign.

I was offered a full-time job at an attorney's office a five-minute drive from my house a couple of months ago...and I actually thought about it for a few days. But I'm learning to take it somewhat easy now, having worked nearly every day for almost fifty years, and I ended up passing on the job. My health isn't all that it could be, so I don't know how many more years I've got on this planet. It's time for me, personally, to slow it down and enjoy a quieter, more contemplative life. I have no desire to vacation in exotic places or buy hundred-thousand dollar automobiles or any of that. Sure it's fun to fantasize about something like this.



But, to coin a phrase, you can't take it with you.

Smart move!!! When this lease is up, I'm done - unless I do a few hours a week to mentor.